Loans & Debt · Before Taking a Loan
Home Loan EMI Calculator
Work out the monthly EMI on a home loan in India: enter the loan amount, the rate on your sanction letter and the tenure (up to 30 years) to see total interest, the year-by-year schedule, how fast the balance falls, and what a processing fee with GST or an early foreclosure does to the cost.
A ready-made version of the EMI Calculator (EMI Planner).
Your inputs
₹ 50 lakh
Your result Live
Monthly EMI
₹43,391
240 monthly EMIs over 20 years
- Principal Amount
- ₹50,00,000
- Total Interest
- ₹54,13,879
- Total Payment
- ₹1,04,13,879
- Interest-to-Principal Ratio
- 108%
- Interest in Your First EMI
- ₹35,417 (82%)
- Half the Loan Repaid By
- EMI 166 (year 14)
- Principal · 48%₹50,00,000
- Total interest · 52%₹54,13,879
Year-by-year repayment schedule
20 rowsThis calculator provides an estimate based on the information entered. Actual EMI may vary slightly based on the lender's calculation method, payment dates, and rounding.
How this is calculated
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1)
- P
- Principal
- r
- Monthly interest rate
- n
- Number of monthly installments
A home loan is repaid in equal monthly instalments over 15 to 30 years, and because the tenure is so long the interest is a very large part of what you pay. On ₹50,00,000 at 8.5 % for 20 years the EMI is ₹43,391 and the total interest is ₹54,13,879, which is more than the amount you borrowed. Stretching the same loan to 25 years lowers the EMI to ₹40,261 but raises the interest to ₹70,78,406; shortening it to 15 years raises the EMI to ₹49,237 and cuts the interest to ₹38,62,656. The schedule shows how little of the first few years' EMIs reduces the loan, which is why even a small early part payment can shorten a home loan by years. Many home loans carry a floating rate that your lender can change, so treat the result as an estimate and compare it with the Key Facts Statement your lender must give you.
Assumptions & sources
- Interest is charged every month on the balance still owed (reducing balance), and every EMI is the same amount.
- A monthly rate is multiplied by 12 to get the yearly equivalent; it is used directly in the EMI formula.
- The processing fee and the GST on it are taken out of the loan before it is paid out. EMI and interest are worked out on the full sanctioned amount.
- GST on the fee and on the foreclosure charge applies to Indian rupee loans only and is ignored for other currencies. Interest and principal carry no GST.
- Foreclosure happens once, right after the EMI you choose. The foreclosure payment is the left-over principal from the schedule plus the charge and the GST on it.
- Interest Saved is the interest of the full tenure minus the interest paid up to foreclosure; the charge and its GST are shown separately.
- Effective Rate Including Fees is a yearly figure (monthly rate × 12) on the money you actually receive. It is not the lender's APR, which may be computed differently.
- Broken-period interest, insurance and other deductions are not included unless you enter them as a fee.
- 1Key Facts Statement for Loans & Advances — Reserve Bank of India (2024-04-15)
- 2Pre-payment Charges on Loans Directions, 2025 — Reserve Bank of India (2025-07-02)
- 3What is monthly reducing balances method? — Reserve Bank of India (FAQ)
Common questions
What is the EMI on a 50 lakh home loan?
At 8.5 % a year for 20 years the EMI on ₹50,00,000 is about ₹43,391. At 9.5 % it rises to about ₹46,607. Enter the rate on your own sanction letter, because home loan rates differ by lender, by your profile and over time.
How is a home loan EMI calculated?
The lender divides the yearly rate by 12 to get a monthly rate and works out a fixed payment that clears the loan, with interest charged each month on the balance still owed, over all the monthly instalments. The formula is EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r the monthly rate and n the number of months.
How long should my home loan tenure be?
A longer tenure lowers the EMI but raises the total interest sharply: for ₹50 lakh at 8.5 %, moving from 15 to 25 years lowers the EMI by about ₹9,000 a month but adds roughly ₹32 lakh of interest. A common approach is to take the tenure whose EMI you can afford comfortably and pay it down faster when you can.
Why does my home loan balance fall so slowly in the first years?
Interest is charged on the full outstanding balance, so in the first year most of each EMI is interest. On the 50 lakh example, about ₹35,400 of the first ₹43,391 EMI is interest. The year-by-year table and the line chart show the balance falling faster as the years pass.
Is there a processing fee on a home loan, and is GST charged on it?
Many lenders charge a one-time processing fee, usually quoted as a percentage of the loan or a fixed amount. GST is added to the fee, not to the EMI. Open the Processing Fee field to add it; the calculator then shows the amount disbursed and the effective rate including fees. Fees vary by lender, so check your sanction letter.
Can I close my home loan early, and will I pay a penalty?
You can pay off the loan before the tenure ends. RBI rules bar foreclosure and pre-payment charges on floating-rate loans to individuals for non-business purposes, while fixed-rate loans may carry a charge set in the agreement. Turn on “Foreclose the loan early” under More options to see the left-over principal and the interest you save, and check current rules and your loan agreement.
Does this include tax benefits or property costs?
No. It only works out the loan repayment. Tax deductions on home-loan interest and principal depend on current income-tax rules and your own situation, so check the rules or ask a tax adviser. Stamp duty, registration and maintenance are separate costs.
How much home loan can I afford?
Lenders usually look at your income and existing EMIs. To estimate the loan size your income supports, use the Loan Capacity calculator, then come back here to see the EMI and total interest for the amount and tenure you pick.